Stock Code: 000521, 200521 Stock Abbreviation: Changhong Meiling, Hongmeiling BAnnouncement No.: 2025-025
Changhong Meiling Co., Ltd.The First Quarterly Report of 2025
The Company and whole members of the Board guarantee that the information disclosed is true, accurate andcomplete and there are no fictitious records, misleading statements or material omissions carried in the Report.
Important Note:
1. Board of Directors and the Supervisory Committee of Changhong Meiling Co., Ltd. (hereinafter referred to asthe Company) and its directors, supervisors and senior executives should guarantee the reality, accuracy andcompletion of the quarterly report, there are no any fictitious statements, misleading statements or importantomissions carried in this report, and shall take legal responsibilities, individual and/or joint.
2. Mr. Wu Dinggang, Person in charge of the Company, Mr. Pang Haitao, head of accounting and Mr. Hu Xiangfei,person in charger of accounting organ (accounting officer) hereby confirm that the financial information of thisQuarterly Report is authentic, accurate and complete.
3. The first quarterly report audited or not
□Yes √No
I. Main financial data(i) Main accounting data and financial indexesWhether it has retroactive adjustment or re-statement on previous accounting data or not
√Yes□No
Retroactive adjustment or restatement
□Changes in accounting policies □Correction of accounting errors
√Mergers under the same control □Other reason
| Current Period | Same period of last year | Changes of this period over same period of last year | ||
| Before adjustment | After adjustment | After adjustment | ||
| Operating income (RMB) | 7,360,074,545.63 | 5,940,062,392.73 | 5,945,935,887.13 | 23.78% |
| Net profit attributable to shareholders of the listed company (RMB) | 181,668,589.37 | 155,536,230.57 | 155,384,850.53 | 16.92% |
| Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses (RMB) | 173,774,809.05 | 185,949,135.46 | 185,230,406.97 | -6.18% |
| Net cash flow arising from operating activities (RMB) | -1,285,257,080.53 | -114,083,183.60 | -116,980,056.07 | -998.70% |
| Basic earnings per share (RMB/Share) | 0.1764 | 0.1510 | 0.1509 | 16.90% |
| Diluted earnings per share (RMB/Share) | 0.1764 | 0.1510 | 0.1509 | 16.90% |
| Weighted average ROE | 2.94% | 2.64% | 2.63% | 0.31 percentage points up |
| End of this period | End of last period | Changes of this period-end over same period-end of last year | ||
| Before adjustment | After adjustment | After adjustment | ||
| Total assets (RMB) | 25,854,658,504.20 | 23,972,603,896.48 | 23,972,603,896.48 | 7.85% |
| Owners’ equity attributable to shareholders of listed company (RMB) | 6,272,578,251.62 | 6,085,800,940.38 | 6,085,800,940.38 | 3.07% |
Note: In October 2024, the Company acquired 99% of the equity of Hefei Changhong Industrial Co., Ltd.(hereinafter referred to as "Hefei Industrial") held by the controlling shareholder Sichuan ChanghongElectric Co., Ltd. with its own funds; Hefei Meiling IOT Technology Co., Ltd., a subsidiary, acquired 1%of the shares of Hefei Industrial held by Sichuan Changhong Innovation Investment Co., Ltd., a subsidiaryof Sichuan Changhong, with its own funds. On November 20, 2024, Hefei Industrial has completed theindustrial and commercial change registration procedures for the change of shareholders of the company,and obtained the "Registration Notice" issued by the Market Supervision and Administration Bureau ofHefei Economic and Technological Development Zone, Anhui Province. After the completion of the equitytransfer, the Company holds 100% of the equity of Hefei Industrial. According to the relevant provisions ofthe No. 33 Accounting Standard for Business Enterprises-Consolidated Financial Statement, the parentcompany shall adjust the opening number of the consolidated statement and at the same time shall adjustthe relevant items of the comparative statements due to the addition of subsidiaries and businesses due to
the business combination under the common control during the reporting period, so as to treat theconsolidated reporting entity as having existed since the time when the ultimate controller began to control.Accordingly, the opening numbers and the numbers of the same period of the previous year have beenrestated.(ii)Items of non-recurring gains and losses
√ Applicable □ Not applicable
In RMB
| Item | Current amount | Note |
| Gains/losses from the disposal of non-current asset (including the write-off that accrued for impairment of assets) | -24,476.32 | |
| Governmental subsidy calculated into current gains and losses(while closely related with the normal business of the Company, the government subsidy that accord with the provision of national policies and are continuously enjoyed in line with a certain standard quota or quantity are excluded) | 10,283,599.43 | Mainly due to government subsidies. |
| Gain and loss from change of the fair value arising from transactional monetary assets, transactional financial liabilities as held as well as the investment income arising from disposal of the transactional monetary assets, transactional financial liabilities and financial assets available for sale excluding the effective hedging transaction in connection with the Company’s normal business | -2,355,451.72 | Mainly due to the gains and losses arising from the Company's irrevocable orders, changes in the fair value of foreign exchange contracts and disposals in the current period |
| Switch back of the impairment for receivables that has impairment test independently | 1,465,720.36 | |
| Other non-operating income and expenses other than the above | 898,681.98 | |
| Less: impact on income tax | 1,106,378.86 | |
| Impact on minority shareholders’ equity (post-tax) | 1,267,914.55 | |
| Total | 7,893,780.32 | -- |
Details of other profit and loss items that meet the non-recurring profit and loss definition
□ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.
Explain the items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/lossin Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss
□ Applicable √ Not applicable
There are no items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/lossin Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss.(iii)Particulars about material changes in items of main accounting statement and financial index andexplanations of reasons
√ Applicable □Not applicable
1.Changes and reasons of item in balance sheet
In RMB
| Item | Ending balance | Opening balance | Changes ratio | Reasons of changes |
| Trading financial assets | 1,645,801,658.39 | - | - | Mainly due to the purchase of wealth management products by the Company in the current period. |
| Derivative financial assets | 44,318,426.52 | 72,010,074.43 | -38.46% | Mainly due to the non cancelable orders and change of the fair value of forward foreign exchange contract changes |
| Account receivable | 2,773,540,197.77 | 1,527,978,374.48 | 81.52% | Mainly due to the increase in sales during the current period |
| Inventory | 5,113,136,778.71 | 3,514,968,009.34 | 45.47% | Mainly due to the increase in the Company's sales stock in the current period |
| Contract assets | 1,316,234.32 | 2,763,866.97 | -52.38% | Mainly due to the transfer of the Company's contract assets to accounts receivable in the current period |
| Non-current asset due within one year | 92,047,032.34 | 60,242,921.84 | 52.79% | Mainly due to the reclassification of the Company's debt investment to maturity within one year |
| Short-term loans | 1,137,062,924.65 | 766,747,286.01 | 48.30% | Mainly due to the increase in the Company's bank borrowings in the current period |
| Derivative financial liabilities | 86,565,625.20 | 156,359,680.92 | -44.64% | Mainly due to the non cancelable orders and change of the fair value of forward foreign exchange contract changes |
| Other current assets | 33,199,590.86 | 23,824,389.50 | 39.35% | Mainly due to the increase in relevant taxes and fees due to the increase in the Company's advance receipts in the current period |
2.Changes and reasons of item in profit statement
In RMB
| Item | Current period | Amount at the same period of last year | Changes ratio | Reasons of changes |
| Administration expenses | 96,394,611.33 | 73,238,839.44 | 31.62% | Mainly due to the increase in the scale of the Company and the increase in management expenses in the current period |
| Financial expenses | -7,929,626.86 | -42,123,234.68 | 81.18% | Mainly due to the YOY decrease in the Company's interest income and the YOY increase in foreign exchange losses |
| Investment earnings | -7,636,637.23 | 4,806,025.95 | -258.90% | Mainly due to the YOY increase in the delivery loss of the Company's forward foreign exchange contracts in the current period |
| Gains on changes in fair value | 47,529,054.02 | -36,212,338.39 | 231.25% | Mainly due to the gains and losses arising from the Company's irrevocable orders, changes in the fair value of foreign exchange contracts and disposals in the current period |
| Credit impairment loss | -26,670,633.00 | 636,701.65 | 4,288.87% | Mainly due to the YOY increase in the provision for impairment losses of the Company's accounts receivable in the current period |
| Loss of asset impairment | -48,763,745.14 | -10,212,156.71 | 377.51% | Mainly due to the YOY increase in the provision for inventory falling price of the Company in the current period |
| Non-operating expenses | 130,434.82 | 3,095,653.52 | -95.79% | Mainly due to the Company's provision for plant relocation expenses in the same period last year and there is no such in the current period |
3.Changes and reasons of item in cash flow statement
In RMB
| Item | Current period | Amount at the same period of last year | Changes ratio | Reasons of changes |
| Tax refund received | 444,838,571.60 | 256,947,465.72 | 73.12% | Mainly due to the YOY increase in export tax rebates and VAT credit refunds received by the Company in the current period |
| Other cash received concerning operation activities | 18,889,677.59 | 13,879,674.97 | 36.10% | Mainly due to the YOY increase in rental income received by the Company in the current period |
| Cash paid for purchasing commodities and receiving labor service | 7,558,032,416.67 | 5,180,479,369.78 | 45.89% | Mainly due to the YOY increase in the Company's purchase payments in the current period |
| Taxes paid | 148,508,468.23 | 95,666,144.78 | 55.24% | Mainly due to the YOY increase in the value-added tax paid by the Company in the current period |
| Other cash paid concerning operating activities | 249,779,454.30 | 186,744,065.20 | 33.75% | Mainly due to the YOY increase in various expenses paid by the Company in the current period |
| Item | Current period | Amount at the same period of last year | Changes ratio | Reasons of changes |
| Cash received from recovery of investment | 4,684,238,472.00 | 100,000,000.00 | 4,584.24% | Mainly due to the YOY increase in the income of the Company's wealth management products in the current period |
| Cash received from absorbing investment | 5,317,616.45 | 2,535,371.20 | 109.74% | Mainly due to the YOY increase in the income of the Company's wealth management products in the current period |
| Cash paid for purchasing fixed, intangible and other long-term assets | 100,171,495.72 | 75,706,154.21 | 32.32% |
Mainly due to the YOY increasein the Company's acquisitionand construction of fixed assetsand intangible assets in thecurrent period
| Cash paid for investment | 6,170,145,888.89 | 980,000,000.00 | 529.61% | Mainly due to the YOY increase in the income of the Company's wealth management products in the current period |
| Other cash paid concerning investing activities | 63,622,201.24 | - | - | Mainly due to the delivery loss of the Company's forward foreign exchange contracts and the payment of project bid deposits |
| Cash received from loans | 1,160,618,410.98 | 560,575,979.93 | 107.04% | Mainly due to the YOY increase in bank borrowings obtained by the Company in the current period |
| Other cash paid concerning financing activities | 350,850,007.60 | 41,743,739.56 | 740.49% | Mainly due to the YOY increase in the financing by the discount of the Company's bills in the current period |
| Cash paid for settling debts | 790,638,439.12 | 448,206,057.48 | 76.40% | Mainly due to the YOY increase in the Company's repayment of bank borrowings in the current period |
| Other cash paid concerning financing activities | 143,460,695.94 | 20,449,577.40 | 601.53% | Mainly due to the YOY increase in restrictions of the Company guarantee deposits in the current period |
| Effect of exchange rate changes on cash | 2,288,462.86 | -432,457.38 | 629.18% | Mainly due to the change of exchange rate in the Period |
II. Shareholders
(i)Total number of common shareholders and preference shareholders with voting rights recovered and
top ten shareholders
In Shares
| Total number of common shareholders at the end of report period | 76,065 | Total preference shareholders with voting rights recovered at end of reporting period (if applicable) | 0 |
| Top ten shareholders(Excludes shares lent through refinancing) | |||
| Shareholder’s name | Nature of shareholder | Proportion of shares held | Amount of shares held | Amount of lock-up shares held | Information of shares pledged, tagged or frozen | ||||
| State of share | Amount | ||||||||
| Sichuan Changhong Electric Co., Ltd. | State-owned legal person | 24.12% | 248,457,724 | 0 | - | -- | |||
| HKSCC | Overseas Legal person | 3.53% | 36,357,070 | 0 | - | - | |||
| The National Social Security Fund 101 portfolio | Domestic non-state-owned legal person | 3.15% | 32,423,661 | 0 | - | - | |||
| CHANGHONG (HK) TRADING LIMITE | Overseas Legal person | 2.63% | 27,077,797 | 0 | - | - | |||
| Hefei Industry Investment Holding (Group) Co., Ltd. | State-owned legal person | 1.83% | 18,864,896 | 0 | - | - | |||
| CAOSHENGCHUN | Overseas natural person | 1.43% | 14,766,086 | 0 | - | - | |||
| Industrial Bank－Southern Xingrun value one-year holding period of hybrid securities investment fund | Domestic non-state-owned legal person | 0.95% | 9,751,953 | 0 | - | - | |||
| ICBC－South Excellent Growth Stock Securities Investment Fund | Domestic non-state-owned legal person | 0.85% | 8,783,600 | 0 | - | - | |||
| PHILLIP SECURITIES（HK）LIMITED | Foreign legal person | 0.61% | 6,296,913 | 0 | - | - | |||
| Qian Guanghai | Domestic natural person | 0.59% | 6,101,274 | 0 | - | - | |||
| Top ten shareholders with unrestricted shares held(Excluding shares lent through refinancing and Top management lock-in stock) | |||||||||
| Shareholder’s name | Amount of unrestricted shares held | Type of shares | |||||||
| Type | Amount | ||||||||
| Sichuan Changhong Electric Co., Ltd. | 248,457,724 | RMB ordinary shares | 248,457,724 | ||||||
| HKSCC | 36,357,070 | RMB ordinary shares | 36,357,070 | ||||||
| The National Social Security Fund 101 portfolio | 32,423,661 | RMB ordinary shares | 32,423,661 | ||||||
| CHANGHONG (HK) TRADING LIMITE | 27,077,797 | Domestically listed foreign shares | 27,077,797 | ||||||
| Hefei Industry Investment Holding (Group) Co., Ltd. | 18,864,896 | RMB ordinary shares | 18,864,896 | ||||||
| CAOSHENGCHUN | 14,766,086 | Domestically listed foreign shares | 14,766,086 | ||||||
| Industrial Bank－Southern Xingrun value one-year holding period of hybrid securities investment fund | 9,751,953 | RMB ordinary shares | 9,751,953 | ||||||
| ICBC－South Excellent Growth Stock Securities Investment Fund | 8,783,600 | RMB ordinary shares | 8,783,600 | ||||||
| PHILLIP SECURITIES（HK）LIMITED | 6,296,913 | Domestically listed foreign shares | 6,296,913 | ||||||
| Qian Guanghai | 6,101,274 | Domestically listed foreign shares | 6,101,274 | |
| Explanation on associated relationship among the aforesaid shareholders | Among the above shareholders, CHANGHONG (HK) TRADING LIMITED (hereinafter referred to as Hong Kong Changhong) is the wholly-owned subsidiary of Sichuan Changhong Electric Co., Ltd.; except the shares of the Company directly held of the B shares of the Company, 6,296,913 shares of B-stock are also held through Phillip Securities (Hong Kong) Co., Ltd., the foregoing shareholders constitute persons of uniform action. There existed no associated relationship or belong to the concerted actors as specified in the Measures for the Administration of Information Disclosure of Shareholder Equity Changes of Listed Companies among Sichuan Changhong Electric Co., Ltd, Hong Kong Changhong and other top 7 shareholders（excluding PHILLIP SECURITIES（HK）LIMITED） , The company neither knows whether there is any association among other shareholders, nor knows whether other shareholders belong to the persons acting in concert that is stipulated in the “Administrative Measures on Information Disclosure of Changes in Shareholding of Listed Companies”. | |||
| Explanation on top ten shareholders involving margin business (if applicable) | Not applicable | |||
Information of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10shareholders of unrestricted tradable shares participating in the lending of shares in securities lending andborrowing business
□Applicable ?Not applicable
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed comparedwith the previous period due to the securities lending/returning,
□Applicable ?Not applicable
(ii)Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the endof the report period
□ Applicable √Not applicable
III. Other important matters
√ Applicable □ Not applicable
| Overview | Date for disclosure | Information index for temporary report disclosure |
| Passed by the resolution of the board of directors and the board of supervisors of the Company, it’s agreed that the Company will simultaneously revise some clauses of Risk Management Plan by Changhong Meiling Co., Ltd. for Deposit and Loan Financial Business in Sichuan Changhong Group Finance Co., Ltd.in accordance of the "Notice on Regulating the Business Dealings between Listed Companies and Financial Companies of Enterprise Groups" (No. 48[2022] Zheng Jian Fa), "Administrative Measures for Financial Companies of Enterprise Groups" (Order No. 6 of 2022 of the China Banking and Insurance Regulatory Commission), "Self-Regulatory Guidelines for Listed Companies on the Shenzhen Stock Exchange No. 7 - Transactions and Related Party Transactions (Revised in 2023)" and other relevant regulations. | January 2,2025 | Juchao Website: http://www.cninfo.com.cn（Announcement No.:2025-001,2025-002 and 2025-003） |
| As of January 23, 2025, Sichuan Hongyun Venture Capital Partnership (Limited Partnership) has yet not completed the product filing and has not actually carried out external investment business, and the Company has received a total of RMB 18,152,000 of paid-in capital contributions and cash management income from such payment. In view of the fact that the fund's | January 24,2025 | Juchao Website: http://www.cninfo.com.cn（Announcement No.:2025-004） |
| Overview | Date for disclosure | Information index for temporary report disclosure |
| expansion progress is not as expected, it has been difficult to meet the initial target of the fund. On January 23, 2025, Sichuan Hongyun Venture Capital Partnership (Limited Partnership) held the first interim general meeting of partners in 2025, and unanimously agreed to terminate the operation of the partnership, dissolve the partnership, establish a liquidation group to terminate and liquidate the partnership, and authorize the fund manager to handle the liquidation and cancellation related matters. | ||
| After the resolution of the board of directors of the Company, it’s agreed that the Company and its subsidiary Mianyang Meiling Refrigeration Co., Ltd. (hereinafter referred to as "Mianyang Meiling") invest a total of RMB 500 million with its own funds to the establishment of a subsidiary Mianyang Changhong Smart Household Appliances Co., Ltd. (hereinafter referred to as "Smart Household Appliances Company"), of which the Company will invest RMB 495 million and hold 99% of the equity ratio, and Mianyang Meiling will invest RMB 50 million and hold 1% of the equity ratio; In addition, Smart Home Appliances Company will participate in the bidding for an industrial land located in Fuxin Community, Songya Town, Mianyang Economic and Technological Development Zone, Sichuan Province. The land is for the construction of the Company's washing machine project, with a land area of about 136,737.72 square meters (about 205.11 acres), and the total authorized bidding price shall not exceed RMB 59.50 million/ | March 18,2025 | Juchao Website: http://www.cninfo.com.cn（Announcement No.:2025-0052 and 2025-006） |
IV. Quarterly financial statements(i) Financial statement
1. Consolidate Balance Sheet
Prepared by Changhong Meiling Co., Ltd.
In RMB
| Item | Ending balance | Opening balance |
| Current assets: | ||
| Monetary fund | 8,303,256,462.13 | 10,492,450,750.61 |
| Settlement provisions | ||
| Capital lent | ||
| Trading financial assets | 1,645,801,658.39 | |
| Derivative financial assets | 44,318,426.52 | 72,010,074.43 |
| Note receivable | ||
| Account receivable | 2,773,540,197.77 | 1,527,978,374.48 |
| Receivable financing | 1,158,902,471.24 | 1,516,987,953.83 |
| Account paid in advance | 60,372,463.68 | 60,352,345.27 |
| Insurance receivable | ||
| Reinsurance receivables | ||
| Contract reserve of reinsurance receivable |
| Other account receivable | 109,583,312.99 | 135,391,270.79 |
| Including: Interest receivable | ||
| Dividend receivable | 11,849,751.70 | 12,124,951.70 |
| Buying back the sale of financial assets | ||
| Inventory | 5,113,136,778.71 | 3,514,968,009.34 |
| Including：Data resources | ||
| Contractual assets | 1,316,234.32 | 2,763,866.97 |
| Assets held for sale | ||
| Non-current asset due within one year | 92,047,032.34 | 60,242,921.84 |
| Other current assets | 523,838,454.03 | 562,030,362.98 |
| Total current assets | 19,826,113,492.12 | 17,945,175,930.54 |
| Non-current assets: | ||
| Loans and payments on behalf | ||
| Debt investment | 1,452,987,584.27 | 1,474,153,793.17 |
| Other debt investment | ||
| Long-term account receivable | ||
| Long-term equity investment | 84,311,306.81 | 81,511,146.82 |
| Investment in other equity instrument | ||
| Other non-current financial assets | 674,073,432.44 | 676,094,304.44 |
| Investment real estate | 65,939,884.31 | 66,720,850.69 |
| Fixed assets | 2,220,723,738.31 | 2,218,850,660.12 |
| Construction in progress | 113,181,218.73 | 97,807,983.40 |
| Productive biological asset | ||
| Oil and gas asset | ||
| Right-of-use assets | 114,627,525.09 | 113,784,190.78 |
| Intangible assets | 1,010,509,217.13 | 994,429,966.05 |
| Including：Data resources | ||
| Expense on Research and Development | 80,742,299.43 | 74,710,694.74 |
| Including：Data resources | ||
| Goodwill | ||
| Long-term expenses to be apportioned | 30,018,698.88 | 33,336,772.23 |
| Deferred income tax asset | 165,111,570.23 | 176,953,941.27 |
| Other non-current asset | 16,318,536.45 | 19,073,662.23 |
| Total non-current asset | 6,028,545,012.08 | 6,027,427,965.94 |
| Total assets | 25,854,658,504.20 | 23,972,603,896.48 |
| Current liabilities: | ||
| Short-term loans | 1,137,062,924.65 | 766,747,286.01 |
| Loan from central bank | ||
| Capital borrowed | ||
| Trading financial liability | ||
| Derivative financial liability | 86,565,625.20 | 156,359,680.92 |
| Note payable | 8,542,107,991.02 | 7,934,125,435.65 |
| Account payable | 7,008,895,744.58 | 6,132,020,588.41 |
| Accounts received in advance | 11,432.14 | 11,085.70 |
| Contractual liability | 556,834,699.55 | 609,737,871.24 |
| Selling financial asset of repurchase | ||
| Absorbing deposit and interbank deposit | ||
| Security trading of agency | ||
| Security sales of agency | ||
| Wage payable | 317,289,329.68 | 389,952,777.46 |
| Taxes payable | 74,948,362.63 | 95,871,539.98 |
| Other account payable | 1,076,978,739.84 | 1,031,439,412.53 |
| Including: Interest payable | ||
| Dividend payable | 6,005,989.72 | 6,005,989.72 |
| Commission charge and commission payable | ||
| Reinsurance payable | ||
| Liability held for sale | ||
| Non-current liabilities due within one year | 34,014,873.63 | 29,135,164.68 |
| Other current liabilities | 33,199,590.86 | 23,824,389.50 |
| Total current liabilities | 18,867,909,313.78 | 17,169,225,232.08 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term loans | ||
| Bonds payable | ||
| Including: Preferred stock | ||
| Perpetual capital securities | ||
| Lease liability | 102,388,312.32 | 101,826,405.91 |
| Long-term account payable | 369,174.54 | 455,409.20 |
| Long-term wages payable | 9,776,724.89 | 10,195,289.45 |
| Accrual liability | 46,967,832.73 | 45,030,417.22 |
| Deferred income | 119,022,365.46 | 125,435,177.90 |
| Deferred income tax liabilities | 40,415,721.00 | 44,072,593.30 |
| Other non-current liabilities | ||
| Total non-current liabilities | 318,940,130.94 | 327,015,292.98 |
| Total liabilities | 19,186,849,444.72 | 17,496,240,525.06 |
| Owner’s equity: | ||
| Share capital | 1,029,923,715.00 | 1,029,923,715.00 |
| Other equity instrument | ||
| Including: Preferred stock | ||
| Perpetual capital securities | ||
| Capital public reserve | 2,750,470,215.39 | 2,750,470,215.39 |
| Less: Inventory shares | ||
| Other comprehensive income | -22,264,485.65 | -21,222,419.68 |
| Reasonable reserve | 27,118,961.43 | 20,968,173.59 |
| Surplus public reserve | 502,454,071.02 | 502,454,071.02 |
| Provision of general risk | ||
| Retained profit | 1,984,875,774.43 | 1,803,207,185.06 |
| Total owner’ s equity attributable to parent company | 6,272,578,251.62 | 6,085,800,940.38 |
| Minority interests | 395,230,807.86 | 390,562,431.04 |
| Total owner’ s equity | 6,667,809,059.48 | 6,476,363,371.42 |
| Total liabilities and owner’ s equity | 25,854,658,504.20 | 23,972,603,896.48 |
Legal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Hu Xiangfei
2. Consolidated Profit Statement
In RMB
| Item | Current period | Last period |
| I. Total operating income | 7,360,074,545.63 | 5,945,935,887.13 |
| Including: Operating income | 7,360,074,545.63 | 5,945,935,887.13 |
| Interest income | ||
| Insurance gained | ||
| Commission charge and commission income | ||
| II. Total operating cost | 7,153,061,808.06 | 5,754,750,714.50 |
| Including: Operating cost | 6,489,256,428.27 | 5,176,629,809.01 |
| Interest expense | ||
| Commission charge and commission expense | ||
| Cash surrender value | ||
| Net amount of expense of compensation | ||
| Net amount of withdrawal of insurance contract reserve | ||
| Bonus expense of guarantee slip | ||
| Reinsurance expense | ||
| Tax and extras | 26,909,661.98 | 27,861,641.26 |
| Sales expense | 397,393,048.13 | 386,719,055.20 |
| Administrative expense | 96,394,611.33 | 73,238,839.44 |
| R&D expense | 151,037,685.21 | 132,424,604.27 |
| Financial expenses | -7,929,626.86 | -42,123,234.68 |
| Including: Interest expenses | 5,315,614.00 | 6,712,613.15 |
| Interest income | 36,935,388.99 | 48,799,974.81 |
| Add: other income | 36,739,447.51 | 30,629,376.37 |
| Investment income | -7,636,637.23 | 4,806,025.95 |
| Including: Investment income on affiliated company and joint venture | 2,852,607.47 | 6,580,724.07 |
| The termination of income recognition for financial assets measured by amortized cost | -2,043,924.19 | -589,721.74 |
| Exchange income | ||
| Net exposure hedging income | ||
| Income from change of fair value | 47,529,054.02 | -36,212,338.39 |
| Loss of credit impairment | -26,670,633.00 | 636,701.65 |
| Losses of devaluation of asset ( | -48,763,745.14 | -10,212,156.71 |
| Income from assets disposal | 36,334.95 | |
| III. Operating profit (Loss is listed with “-”) | 208,210,223.73 | 180,869,116.45 |
| Add: Non-operating income | 1,004,640.48 | 1,005,750.57 |
| Less: Non-operating expense | 130,434.82 | 3,095,653.52 |
| IV. Total profit (Loss is listed with “-”) | 209,084,429.39 | 178,779,213.50 |
| Less: Income tax expense | 22,938,798.96 | 20,289,968.19 |
| V. Net profit (Net loss is listed with “-”) | 186,145,630.43 | 158,489,245.31 |
| (i) Classify by business continuity | ||
| 1. Net profit from continuing operations (net loss listed with “-”) | 186,145,630.43 | 158,489,245.31 |
| 2. Net profit from termination of operations (net loss listed with “-”) | ||
| (ii) Classify by ownership | ||
| 1.Net profit attributable to owner’s of parent company | 181,668,589.37 | 155,384,850.53 |
| 2.Minority shareholders’ gains and losses | 4,477,041.06 | 3,104,394.78 |
| VI. Net after-tax of other comprehensive income | -1,065,007.66 | -444,448.87 |
| Net after-tax of other comprehensive income attributable to owners of parent company | -1,042,065.97 | -466,317.69 |
| (i) Other comprehensive income items which will not be reclassified subsequently to profit of loss | ||
| 1.Changes of the defined benefit plans that re-measured | ||
| 2.Other comprehensive income under equity method that cannot be transfer to gain/loss | ||
| 3.Change of fair value of investment in other equity instrument | ||
| 4.Fair value change of enterprise's credit risk | ||
| 5. Other | ||
| (ii) Other comprehensive income items which will be reclassified subsequently to profit or loss | -1,042,065.97 | -466,317.69 |
| 1.Other comprehensive income under equity method that can transfer to gain/loss | ||
| 2.Change of fair value of other debt investment | ||
| 3.Amount of financial assets re-classify to other comprehensive income | ||
| 4.Credit impairment provision for other debt investment | ||
| 5.Cash flow hedging reserve | ||
| 6.Translation differences arising on translation of foreign currency financial statements | -1,042,065.97 | -466,317.69 |
| 7.Other | ||
| Net after-tax of other comprehensive income attributable to minority shareholders | -22,941.69 | 21,868.82 |
| VII. Total comprehensive income | 185,080,622.77 | 158,044,796.44 |
| Total comprehensive income attributable to owners of parent Company | 180,626,523.40 | 154,918,532.84 |
| Total comprehensive income attributable to minority shareholders | 4,454,099.37 | 3,126,263.60 |
| VIII. Earnings per share: |
| (i) Basic earnings per share | 0.1764 | 0.1509 |
| (ii) Diluted earnings per share | 0.1764 | 0.1509 |
Enterprise combine under the same control in the Period, the combined party realized net profit of 0.00 Yuanbefore combination, and realized 0.00 Yuan at last period for combined party.Legal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Hu Xiangfei
3. Consolidated Cash Flow Statement
In RMB
| Item | Current period | Last period |
| I. Cash flows arising from operating activities: | ||
| Cash received from selling commodities and providing labor services | 6,854,635,238.76 | 5,620,455,677.13 |
| Net increase of customer deposit and interbank deposit | ||
| Net increase of loan from central bank | ||
| Net increase of capital borrowed from other financial institution | ||
| Cash received from original insurance contract fee | ||
| Net cash received from reinsurance business | ||
| Net increase of insured savings and investment | ||
| Cash received from interest, commission charge and commission | ||
| Net increase of capital borrowed | ||
| Net increase of returned business capital | ||
| Net cash received by agents in sale and purchase of securities | ||
| Write-back of tax received | 444,838,571.60 | 256,947,465.72 |
| Other cash received concerning operating activities | 18,889,677.59 | 13,879,674.97 |
| Subtotal of cash inflow arising from operating activities | 7,318,363,487.95 | 5,891,282,817.82 |
| Cash paid for purchasing commodities and receiving labor service | 7,558,032,416.67 | 5,180,479,369.78 |
| Net increase of customer loans and advances | ||
| Net increase of deposits in central bank and interbank | ||
| Cash paid for original insurance contract compensation | ||
| Net increase of capital lent | ||
| Cash paid for interest, commission charge and commission | ||
| Cash paid for bonus of guarantee slip | ||
| Cash paid to/for staff and workers | 647,300,229.28 | 545,373,294.13 |
| Taxes paid | 148,508,468.23 | 95,666,144.78 |
| Other cash paid concerning operating activities | 249,779,454.30 | 186,744,065.20 |
| Subtotal of cash outflow arising from operating activities | 8,603,620,568.48 | 6,008,262,873.89 |
| Net cash flows arising from operating activities | -1,285,257,080.53 | -116,980,056.07 |
| II. Cash flows arising from investing activities: | ||
| Cash received from recovering investment | 4,684,238,472.00 | 100,000,000.00 |
| Cash received from investment income | 5,317,616.45 | 2,535,371.20 |
| Net cash received from disposal of fixed, intangible and other long-term assets | 11,422.55 | 95,000.00 |
| Net cash received from disposal of subsidiaries and other units | ||
| Other cash received concerning investing activities | 41,708,691.28 | 59,204,176.91 |
| Subtotal of cash inflow from investing activities | 4,731,276,202.28 | 161,834,548.11 |
| Cash paid for purchasing fixed, intangible and other long-term assets | 100,171,495.72 | 75,706,154.21 |
| Cash paid for investment | 6,170,145,888.89 | 980,000,000.00 |
| Net increase of mortgaged loans | ||
| Net cash received from subsidiaries and other units obtained | ||
| Other cash paid concerning investing activities | 63,622,201.24 | |
| Subtotal of cash outflow from investing activities | 6,333,939,585.85 | 1,055,706,154.21 |
| Net cash flows arising from investing activities | -1,602,663,383.57 | -893,871,606.10 |
| III. Cash flows arising from financing activities | ||
| Cash received from absorbing investment | ||
| Including: Cash received from absorbing minority shareholders’ investment by subsidiaries | ||
| Cash received from loans | 1,160,618,410.98 | 560,575,979.93 |
| Other cash received concerning financing activities | 350,850,007.60 | 41,743,739.56 |
| Subtotal of cash inflow from financing activities | 1,511,468,418.58 | 602,319,719.49 |
| Cash paid for settling debts | 790,638,439.12 | 448,206,057.48 |
| Cash paid for dividend and profit distributing or interest paying | 6,644,576.90 | 6,720,779.16 |
| Including: Dividend and profit of minority shareholder paid by subsidiaries | ||
| Other cash paid concerning financing activities | 143,460,695.94 | 20,449,577.40 |
| Subtotal of cash outflow from financing activities | 940,743,711.96 | 475,376,414.04 |
| Net cash flows arising from financing activities | 570,724,706.62 | 126,943,305.45 |
| IV. Influence on cash and cash equivalents due to fluctuation in exchange rate | 2,288,462.86 | -432,457.38 |
| V. Net increase of cash and cash equivalents | -2,314,907,294.62 | -884,340,814.10 |
| Add: Balance of cash and cash equivalents at the period-begin | 9,976,098,734.11 | 8,391,177,936.62 |
| VI. Balance of cash and cash equivalents at the period-end | 7,661,191,439.49 | 7,506,837,122.52 |
Legal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Hu Xiangfei
（ii）The Company started implementing the updated accounting standards commencing from 2025and adjusted the relevant items in the financial statements at the beginning of the very year involvedin the initial implementation of the said standards
□Applicable √Not applicable
(iii) Audit reportWhether the First quarterly report has been audited or not
□Yes √ No
The First quarterly report of the Company has not been audited.
Board of Directors of Changhong Meiling Co., Ltd.
April 22, 2025